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Today’s Economy and Car Loans: How to Get By?

Uncovering the Lowest Rates

Today, more than ever, finding advantageous financing rates is a challenge! While we hear a lot about the ravages of rising interest rates in the real estate industry, the automotive industry is no exception. As William Clavey confirms in RPM:

Over the past few weeks, we’ve seen some manufacturers suddenly raise their rates, whether it’s for a purchase or a lease.

Many consumers who were hoping to buy a new car are more and more shrinking back and changing their minds. Used cars are also being affected, as bank rates have increased.

What is the lowest rate for a car loan? It is constantly changing and depends on the banks. To find the best rate in today’s market, dealing with a credit bureau like Financement Auto Laval allows you to expand your options. Our team is able to find the most reasonable rates available today.

Adapting Your Budget

Inflation is on everyone’s lips: it has reached a new high, a record since 1983 with a 7.7% increase. As a result, people are being forced to rethink their budgets.

Considering the current rise in fuel price which is a significant factor in your wallet, you may even be looking for a less expensive vehicle than the one you currently own.

Finding a car in a situation where the cost of living is taking its toll on you can be a very complex issue. You need to find a financing solution that doesn’t interfere with your other essential expenses, which are also rising in price!

Financement Auto Laval offers you flexible options, whether it’s a:

  • Monthly budget
  • Length of payments
  • Frequency of payments
  • Fixed or variable rates

If needed, our in-house car financing solutions allow us to adapt even more easily to your financial reality. If you have a reduced budget due to the current crisis, we can help you! Our professionals understand your needs and take them into account when looking for a solution.

Our online calculator can also help you determine your budget for the purchase of a new car to better guide you later on. Don’t hesitate to try it!

Find 100% Approved Auto Financing

The current situation is creating unprecedented financial hardship for some individuals, and credit scores often suffer as a result. Have you been turned down by the bank? Are you holding back to apply for credit by fear of affecting your credit rating? Our team is there for you.

Thanks to our 2nd or 3rd chance credit solutions or our in-house car financing, we are able to approve your loan, regardless of your credit file. We even take on more complex cases such as:

  • Individuals who have filed for bankruptcy
  • Self-employed individuals
  • Retired people
  • Low-income individuals
  • And many more

Our mission is to provide home credit solutions for anyone who is experiencing difficulties. In addition, we strive to tailor our options to make your life easier. Our team is used to complex cases and will put you in confidence and at ease.

Choosing an Economical Car

Whether it’s fuel consumption, initial cost or maintenance costs, several factors can help you save on your vehicle. At our partner Style Auto, you’ll find several choices of low-cost vehicles, many of them under $15,000.

Buying a vehicle in good condition is in itself a good starting point for saving on repairs and maintenance costs. At our partner’s, you’ll find everything, regardless of your monthly budget.

The team at Financement Auto Laval can help you get your hands on the car you need. Our credit bureau on the North Shore of Montréal, in Laval, takes care of each one of its customers and takes your needs into account in the most difficult times.

Posted on Jun 30, 2022

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